US Freezes $344 Million in Tether's USDT, Citing 'Economic Fury' Against Iranian Regime

In its latest move to disrupt Iran's financial networks, the US Treasury Department has frozen $344 million in cryptocurrency, as part of a broader campaign known as 'Economic Fury'. The freeze is the result of sanctions imposed on multiple crypto wallets linked to Iran by the Treasury's Office of Foreign Assets Control (OFAC). According to Treasury Secretary Scott Bessent, the US will continue to track and target all financial lifelines tied to the Iranian regime. The action follows Tether's decision to blacklist two blockchain addresses holding $344 million in USDT. The sanctioned wallets have been found to have significant links to the Iranian regime, including transactions with Iranian exchanges and connections to wallets associated with the Central Bank of Iran. The Iranian government has been increasingly using digital assets to conceal cross-border transactions and circumvent sanctions. The US Treasury Department is working with blockchain analytics firms and financial institutions to track illicit flows tied to sanctioned entities, and has also sanctioned a China-based refinery for its role in Iran's oil economy.